MEED: How has the Middle East market performed for your company over the past three years?

Yusuf Akcayoglu: 2011 and 2012 have been remarkable years for TAV. In late 2011, the consortium led by TAV Airports Holding won the first fully fledged public-private partnership airport development contract in the GCC region, the Medina Prince Mohammad bin Abdulaziz International airport [in Saudi Arabia].

Under this contract, the Tibah consortium, consisting of TAV, Saudi Oger and Al-Rajhi Holding, would design, finance, build and operate the Medina airport for 25 years. Works on site have already begun and we plan to commence operations at the new terminal building in 2015.

We have rapidly expanded our portfolio with Saudi Arabia operations since our joint venture with Al-Rajhi Holding and Habtoor Leighton Group was selected for the design-and-build construction project for the Saudia Aerospace Engineering Industries’ aircraft maintenance hangars at Jeddah’s King Abdulaziz International Airport. The first phase of the scheme calls for a 360,000-square-metre maintenance repair overhaul facility and associated buildings.

In the Middle East region, Saudi Arabia is currently the most promising market for TAV Construction

However, the most important achievement of the past three years has been the award received from Abu Dhabi Airports Company (ADAC) for the Midfield Terminal building at Abu Dhabi International airport. We had been closely monitoring this project since 2005. Designed by [the US’] KPF, the terminal is destined to become one of the iconic structures of this era and the facility is a 702,000-sq-m building that will have an opening capacity of 27 million passengers a year.

In the past three years, TAV grew exponentially with prestigious contract awards to become one of the leaders in the industry. During this period in the Middle East and North Africa (Mena) region, we have completed and handed over the greenfield airport development of Enfidha International airport in Tunisia, the 30-storey Emirates Financial Towers in Dubai, the 52-storey Majestic Tower in Sharjah and the 79-storey residential tower in Dubai Marina.

Where do you anticipate growth over the next three years and where do you see the main opportunities for your company?

In the Middle East, Saudi Arabia is currently the most promising market for TAV. We know that there are more airport projects in the pipeline. Having rapidly achieved a successful streak with the winning of the Jeddah and Medina airports, we wish to grow further in the kingdom. TAV is renowned as an expert for airport schemes and our main focus in the short term will remain on airport developments. Other than Saudi Arabia, we are closely following the new passenger terminal building project at Kuwait International airport and the terminal building expansion scheme in Bahrain.

On the other hand, for TAV Construction, Qatar is a very important market. We are privileged to have built the passenger terminal at the state-of-the-art Hamad International airport.

Hamad International is one of the most spectacular projects ever realised, not only in Qatar but in the entire world. The terminal building has an exceptional design for the highest level of passenger convenience, an unparalleled level of quality in finishes, and is equipped with the most advanced technology.

All in all, the Hamad International terminal building will set new standards in the aviation industry. Our strategy is to capitalise on this experience. Like we did in the UAE, here we will look into iconic building projects focusing on super-tall towers, hotels and mixed-use buildings.

What are the current challenges facing TAV Construction?

Increased competition is a common challenge for all contractors. After the US and eurozone crises, the Gulf region cemented its position as a global business hub. Starting with the UAE, the leaders of the GCC states have invested heavily in their business infrastructure and now these countries are the venues of the global competition.

Part of the global aviation brand TAV Group, TAV Construction specialises in airports and airport-related infrastructure projects. This segmentation, at a regional level, might pose a potential challenge for TAV if one day there are no more airports to develop. However, until today this specialisation has been our greatest strength in writing our success story to become one of the three largest airport contractors in the world in less than a decade.

Specialisation brings us the capability and flexibility to efficiently allocate our resources. By only focusing on airport projects, we are able to explore rotation options better and be more responsive to offer competitive solutions. Therefore, our biggest challenge is indeed our biggest strength.

Highlight a recent project that has been significant to TAV.

From Qatar to Oman, Saudi Arabia to Egypt, TAV Construction is delighted to have taken a role in developing the Mena region’s ground-breaking airport development projects.

Airport projects are among the most important schemes in a country, as these facilities are the gateways of nations to the world. Working for the most important clients here and realising the most prestigious project in a particular country is a source of pride for TAV Construction. Our top management and each member of the TAV Construction family are committed to offer extensive and desirable solutions to the clients that we work for. It continuously and wholeheartedly shares the vision with the stakeholders to deliver such prominent projects according to their needs.

We deploy our talents to apply TAV Construction expertise consistently at these remarkable projects. Therefore, what is significant for us is being selected by these reputable clients and reaching a portfolio of $12.5bn in this region. We at TAV Construction are working very hard to maintain and develop our competitive position.